Some workers' compensation costs wasteful

High prices for some medications have proven to be extremely wasteful, as a report from Express Scripts showed that this practice wasted more than $2 billion.

The firm's report showed that $2 billion specifically is wasted by by using expensive medications when there is a cheaper alternative that is of equal strength available. In addition, more than $100 million is wasted by using pharmacies that are not in an insurer's network, as well as third-party billing. Another $40 million is wasted on getting the medicine to the patient.

"It is critical for employers and payers to get a handle on the costs associated with workers' compensation prescriptions, and we have the solutions to help them to do so, leading to better outcomes for injured workers with minimal disruption," said Tim Pokorney, pharmacist and clinical director of workers' compensation at Express Scripts.

If a consumer's current health insurance policy is too expensive for them, it may be a good idea to look for health insurance rates that are more affordable. Comparing insurance quotes may allow a person to find a plan that makes sense for their situation.